RUN MICROFINANCE BANK

Fund Transfer

Overview
RUN Microfinance Bank’s Fund Transfer service allows you to send money quickly and securely to accounts within the bank or to other financial institutions, ensuring seamless financial transactions.

Features and Benefits

Instant Transfers: Enjoy fast and reliable transfers across banks.
Multiple Channels: Transfer funds via mobile app, internet banking, or USSD.
Schedule Payments: Set up future-dated transfers for recurring bills or payments.
Low Charges: Competitive fees for interbank and intrabank transfers.
Transaction Notifications: Receive SMS or email alerts for successful transfers.

Eligibility Criteria

Active account with RUN Microfinance Bank.
Access to the mobile app, internet banking, or USSD platform.
Sufficient funds in the account to cover the transfer amount and charges.

RUN Savings Account

gives you the advantages of competitive interest rates and the availability of your funds, without forfeiture of interest in case of withdrawal. The account may be owned by an individual, an organization or an association. • Simple account opening process • Attractive interest rates • Statement of account (on request) • SMS Alert services • Email Alert services • No maintenance charges • Zero opening balance

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RUN Current Account

provides you with unlimited access to your money at all times. You can manage your business, execute your payments and receive your salary through this account. It is available to both individuals and corporate bodies. • Funds Transfer to all financial institution in Nigeria • Internal transfers free of charge • Encashment of cheques • Standing order transfers/payments • Free statement of account • Transparent transaction • SMS Alert services • Email Alert services • Zero opening balance

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RUN Fixed Deposit Account

This account allows you to fix your money for a chosen period of time and gain attractive interest rates. • Minimum amount of N100,000 • Competitive interest rates • Maturity 30 - 360 days • Flexible tenor • Fixed interest rate throughout the tenor (negotiable)

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Student Account

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Group Loan

Disbursement starts from 1st day to last day of the month. Interest rate is 3% flat per month or 5% at a reducing balance. • Equity contribution of 15% of loan amount. • Minimum of 3 and maximum of 5 members in a group. • The amount of loan is minimum of 50,000 with an increase of N25,000 for second level and maximum of N100,000 per member on level 3 • A weekly repayment of loan with saving and interest will be collected by the credit officer/marketer during weekly meetings of the members • A registration of N2,000:00 to be collected for each member • An interest rate of 6.0% per month is applicable

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Daily Contribution

Disbursement Day starts from 1st of every month to last day of the month. Maximum of N250,000. Daily repayment with interest of 7.5% minimum. • Minimum amount of N100,000 • Competitive interest rates • Flexible tenor • Fixed interest rate throughout the tenor (negotiable)

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